Browsing Tag

Statistics

Business Planning Insights Industry Insights Marketing and Technology Insights

Where Do Buyers and Sellers Find Agents?

March 18, 2014

According to data in the 2013 National Association of REALTORS® (NAR)’s annual Profile of Home Buyers and Sellers, home buyers and sellers consistently report that they truly rely on referrals from friends and family to find an agent or they use an agent they have worked with before.
Take a look at these stats:

  • Fifty-four percent (54%) of buyers and sixty-four percent (64%) of sellers found their agent through a personal referral from neighbors, friends or relatives or they used an agent they had previously worked with.
  • The next closest way a buyer or seller found their agent was through an online website; however, this was merely nine percent (9%) of buyers and four percent (4%) of sellers.

With these statistics, it’s more clear than ever that an integral part of your business’s success relies on good relationship with your past clients. How are you staying in contact with your past clients to build your relationships with them? Here are some ways:

  • Connect on Social Networks. Are you connected with your past clients on social network? Did you just add them but never interact? Social media opens a wealth of opportunities to interact with your clients in ways that was previously impossible. Learn about their interests, connect on a different level, and at your convenience. Dropping a comment, sending a gift, or even “liking” something they post – keeps you on their radar.
  • Monthly Newsletter. Are you regularly sending out information that is beneficial for your past clients? Are you keeping them up-to-date about their community and market?
  • Drip-Email Marketing. Staying in contact and making yourself a resource is crucial. Putting together a strong homeowners drip email campaign can be useful and establish yourself as an expert.
  • Be personal-able. While newsletters, email campaigns, direct marketing does reach consumers – often your clients want more from you – especially if they’re going to refer you to their friends. When’s the last time you reached out on an individual-level? Do you ask them about their families? Do you remember their hobbies? Did the birthday card you sent them include more than a generic message? No one likes to feel like they’re getting cookie-cutter service – so prove to them you’re not.

There’s many ways to reach out to past clients, but there’s no denying how important it is! Finding new ways to connect will ensure your business continues to grow.

Business Planning Insights Industry Insights Sales Insights

Early Bird Gets the Lead

October 12, 2012

The evidence is in – when it comes to internet leads – the early birds gets the worm.
Often salespeople argue that if you’re a strong salesperson, even if you call a lead late, you’ll have a higher chance of closing a lead than someone who contacts them earlier – but so far, the evidence suggests otherwise. Internet consumers not only want, but expect almost immediate responses to their inquiries – and any response over 15 minutes greatly reduces the chance of closing that lead.
Let’s look at the internet consumer:

  • Internet consumers often submit 3-5 lead forms, creating multiple “leads” for multiple agents
  • In a 2011 California Association of Realtors survey of buyers, when asked why they chose their agent, responsiveness played a major role in two of the top five factors named:

What Determines How Buyers Chose Their Agent:
1. Most responsive (28%)
2. Worked with agent before (18%)
3. First to respond (17%)
4. Most agressive (16%)
5. Most knowledgeable (6%)

  •  Additionally, the CAR survey showed that 36% of buyers expected an instant response from agents on internet requests – and 96% expected a response within 4 hours
  • According to MIT*, the odds of contacting a lead more than 5 minutes versus 30 minutes drops 100 times. From 5 to 10 minutes the odds decrease by 5 times.
  • The first to contact a lead increases conversion 238%, speed of response is THE best predictor of a closed transaction
The statistics are clear – the modern internet consumer moves fast – and expects you do too. When they choose to submit any sort of lead from they want information right then. If you aren’t providing it for them, not only are those leads quickly dying, but they’re likely to be picked up by another agent. In that same CAR survey, 86% of leads felt that response time was “extremely important” when deciding their real estate agent.

While perhaps it’s true that not too long ago, a better salesperson could close a lead more frequently even if contacting a lead later – in this rapidly changing industry – that is not what consumers want. An easy way to increase your business and start closing more leads today is to decrease the waiting time before responding to leads. Every agent should make it their goal to respond to any lead within 15 minutes.
Photo Credit: Corn Exchange Clock Bristol (Rick Crowley) / CC BY-SA 2.0
* Research Study by James  Oldroyd, PHD, MIT, October 16, 2007
APR in the News

APR Ranked Eighth Among Nation’s Largest Real Estate Firms

May 27, 2009

(REAL Trends, Inc.- Denver)Alain Pinel Realtors (APR) was ranked the eighth largest real estate firm in the United States based on its sales volume in 2008 according to REAL Trends 500, a compilation of a nationwide study of leading residential real estate companies. The firm had a sales volume of $5.7 billion in 2008 ($1.1 million per transaction) and served 5,300+ clients through its 30 offices.
While APR is a regional company with offices only in the San Francisco Bay Area, it is the largest privately-owned and independent residential real estate firm in California and one of the top three in the country. Alain Pinel Realtors has been consistently ranked in the Top 10 firms in the United States. A locally owned family business, the firm was founded in 1990 by Paul Hulme, current Chairman and CEO, and is based in Saratoga, CA.
“This is a great compliment to the terrific people we have working with us here at Alain Pinel Realtors. 2008 was a very challenging year but our great group of people simply got the job done,” said Larry Knapp, President of Alain Pinel Realtors. “As a local company we are proud to be among the top firms in the nation.”
According to a recent research report produced by REAL Trends, the 500 largest residential real estate brokerage firms in the nation closed 1,891,368 home transactions with a value of over $560 billion during 2008. The transactions represent close to 30 percent of all new and resale transactions completed by brokers during the year, yet the REAL Trends 500 represented less than three-fifths of one percent of all brokerage firms.
The 2009 REAL Trends 500 represents the most comprehensive collection of data assembled on the leaders of the residential brokerage industry. Numbers are documented by outside accounting firms. Due to 58 ties, there are actually 558 companies listed in the top 500. REAL Trends, Inc. is a research, publishing and communication company located in Denver serving the information needs of the residential real estate industry.